Health Care Spending
What is health care spending?
Health care spending is the amount of money spent providing health care benefits to employees and their families. The University System of New Hampshire (USNH), provides medical benefits to more than than 4,000 employees and about 4,800 dependents. By the end of 2012, it is estimated that total amount spent on this benefit this year will exceed $60 million.
Of this $60 million, more than $50 million is spent providing health care benefits to 2,000 UNH employees and thair 3,300 dependents.
This graphic shows us that health care spending has increased every year for the last ten years with USNH costs currently at around $60 million annually.
New Hampshire residents have struggled with some of the highest medical costs in the nation. Nationally, the average family health insurance premium in 2010 costs about $14,000. At UNH, the premium for the most commonly chosen family insurance plan is $23,000. Of that $23,000, UNH pays about 80%. Health care spending has doubled over the last 10 years and has moved ahead of retirement benefits as the single largest benefit program at UNH.
Employees can help save money for UNH and USNH by: